Grainger (NYSE: GWW), Chicago, Ill., a broad line distributor of maintenance, repair and operations products and services, reported sales for its fiscal 2023 second-quarter sales were $4.2 billion, up 9% from the prior-year period.
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Profit for the quarter was $470 million, up 26.5% from the prior-year period.
High-touch solutions sales were up 9.9%; endless assortment daily sales were up 4.5%.
Grainger also reported sales for its first six months, ending June 30, 2023, were $8.3 billion, up 10.5% from the first six months of 2022. Profit for the first six months was $958 million, up 30% from the prior-year period.
“The team delivered another strong quarter of performance, as overall demand remains reasonably steady, and we show up well with our customers,” said D.G. Macpherson, CEO. “Across the business, we continue to invest in our team members and operations, including the recent announcement of our new Northwest Distribution Center, all while producing great results at the top and bottom line. Given the success of the first half, we are raising the midpoint of our revenue and EPS ranges and expect to continue driving strong execution in the back half of 2023.”
